Common use of Termination Right and Transaction Termination Date Clause in Contracts

Termination Right and Transaction Termination Date. In the event that: (a) the CPUC issues a final and non-appealable order not approving this Agreement in its entirety, (b) the CPUC issues a final and non-appealable order which contains conditions or modifications unacceptable to either Party, or (c) approval by the CPUC or the Bankruptcy Court has not been received by Seller on or before three hundred sixty-five (365) days from the date on which Seller files for CPUC Approval or Bankruptcy Court Approval (whichever is later), then either Party may, in its sole discretion, elect to terminate this Agreement upon Notice to the other Party provided in accordance with Section 10.7 of the EEI Agreement. Such Notice shall become effective one (1) Business Day after its provision. The effective date of the Notice shall constitute the “Transaction Termination Date”. Any termination elected and noticed in accordance with this Section 4.2 shall terminate all of the Parties’ rights and obligations under the Agreement as of the Transaction Termination Date.

Termination Right and Transaction Termination Date. In the event that: (a) the CPUC issues a final and non-appealable order not approving this Agreement in its entirety, (b) the CPUC issues a final and non-appealable order which contains conditions or modifications unacceptable to either Party, or (c) approval by the CPUC or the Bankruptcy Court has not been received by Seller Buyer on or before three one hundred sixty-five eighty (365180) days from the date on which Seller Buyer files for CPUC Approval or Bankruptcy Court Approval (whichever is later), then either Party may, in its sole discretion, elect to terminate this Agreement upon Notice to the other Party provided in accordance with Section 10.7 of the EEI Agreement. Such Notice shall become effective one (1) Business Day after its provision. The effective date of the Notice shall constitute the “Transaction Termination Date”. Any termination elected and noticed in accordance with this Section 4.2 10.2 shall terminate all of the Parties’ rights and obligations under the Agreement as of the Transaction Termination Date.